Montreal, Quebec /January 8, 2015 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has received assay results for samples taken on the Montpetit Quarry quartz (silica) property located in the Monteregie Region of Quebec, some 40 km south of Montreal and 7 km south of Saint-Clotilde-de-Chateauguay
The corrected SiO2 average for 9 of the 10 samples assayed is 99.46 %, ranging from 99.16% to 99.67%. The corrected SiO2 average for the 10 samples assayed is 99.13%, ranging from 96.21% to 99.67%. These results validate the fact that a significant portion of the Quartz material from the Montpetit Property would make suitable feedstock for High Purity Ferrosilicon, and could be amenable to be beneficiated to Silicon Metal purity requirement and even high purity quartz sands.
Patrick Levasseur, President and COO of Uragold stated, “We are extremely happy with these results, just like our Roncevaux property, it shows that the Montpetit Quarry has great potential.” Mr. Levasseur added, “2015 will be an exciting year as we continue to develop Quebec Quartz’s exciting high purity silica projects while developing two gold mines in the Beauce region of Quebec.”
IMPORTANCE OF QUARTZ (SILICA)
Quartz (SiO2) is one of the most abundant minerals. It occurs in many different settings and in many different rock types. However, High Purity Quartz deposits with low impurities are rare and only a few deposits are suitable in volume, quality and amenability to be tailored to refining methods for specialty high purity applications.
High Purity Quartz (HPQ), and Silicon Metal is used in large part in the aluminum industry while Ultra High Purity Quartz (UHPQ) has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.
GO FORWARD PLAN:
The Corporation intends to advance the development of the Montpetit project by completing the following steps during Q1 & Q2 2015:
- 1.Send material to specialized laboratories to find the best beneficiation process to transform the Montpetit Quartz material into Silicon Metal grade material and further test to see if the material could be purified to the Ultra High Purity Quartz specifications needed for advanced material and pharmaceutical applications.
High Purity Quartz beneficiated to 99.998% Si02 can command prices up to
US$ 6,000/T (Source: Dorfner Anzaplan). The Corporation intends to focus its interest on this segment of the market.
Run of mine quartz for usage as Ferrosilicon commands sale price averages between US$ 50/T to US$100/T; while run of mine quartz for Silicon Metal commands sale prices averaging between US$ 100/T to US$ 250/T.
- 2.Evaluating the Property Potential.
The exact volume of the quartzite body found on the Montpetit Property needs to be confirmed and measured. Furthermore, the grade distribution needs to be better understood. Of significance will be identifying, the controls that could explain the one-outlier result found in the assay results.
PARTIAL TABLE OF RESULTS:
| Report Number: A14-09140 |
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|
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| Analyte Symbol |
SiO2 |
Al2O3 |
Fe2O3(T) |
LOI |
Total |
SiO2 |
| Unit Symbol |
% |
% |
% |
% |
% |
|
| Detection Limit |
0.01 |
0.01 |
0.01 |
|
0.01 |
|
| Analysis Method |
FUS-XRF |
FUS-XRF |
FUS-XRF |
FUS-XRF |
FUS-XRF |
ADJUSTED |
| 41764 |
99.75 |
0.22 |
0.05 |
0.21 |
100.40 |
99.35% |
| 41764-B |
98.96 |
0.51 |
0.03 |
0.18 |
99.80 |
99.16% |
| 41765 |
98.21 |
0.26 |
0.04 |
0.23 |
98.86 |
99.34% |
| 41765-B |
99.40 |
0.11 |
0.03 |
0.10 |
99.71 |
99.69% |
| 41766 |
96.51 |
1.69 |
0.32 |
0.36 |
100.30 |
96.22% |
| 41766-B |
98.44 |
0.32 |
0.03 |
0.13 |
99.02 |
99.41% |
| 41767 |
100.01 |
0.23 |
0.03 |
0.16 |
100.50 |
99.51% |
| 41767-B |
99.39 |
0.10 |
0.02 |
0.13 |
99.71 |
99.68% |
| 41768 |
99.81 |
0.20 |
0.03 |
0.14 |
100.30 |
99.51% |
| 41768-B |
100.06 |
0.13 |
0.04 |
0.28 |
100.60 |
99.46% |
| Average |
99.05 |
0.38 |
0.06 |
0.19 |
99.92 |
99.13% |
The total exploration area of the Montpetit deposit is 2.42 Km2, while the old quarry is 100 m long by 35 m large and is inside a tabular quartzite. The deposit is composed of consolidated beach sand that diagenesis has transformed into a quartzite. In order to have a good sampling spread, 5 samples were taken at different zones of the quartzite deposit. Each quartzite layer along the stratigraphy has been sampled.
In 1956, 3,000 tons of quartzite averaging 99.27% SiO2 was mined from the Montpetit Quarry and used to produce ferrosilicon (Source: Resources Naturelles du Quebec, Sigeom 2014, Work Reports GM03695).
The material was first sent to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to be prepared for testing for Silica values. 10 prepared samples (an original and a duplicate) were sent to the Activation Laboratories in Ancaster, Ontario for whole rock and trace elements assay (FUS X-Ray Fluorescence (“XRF”)).
The average losses in ignition (“LOI”) (material and moisture burned off during the assays) for the 10 samples is 0.19% (ranging between 0.13% and 0.36%) this suggest that a certain percentage of the alkali metals are present as a carbonate molecule, and with an average laboratory total of 99.92% (ranging between 98.80 % and 100.6%), a correction for the loss of carbonate is required in order to present the actual SiO2 grade of the samples.
Click Image To View Full Size
Picture 1: Field sample from the Montpetit Property, Sample # 41767 tested 99.51% SIO2
Click Image To View Full Size
Picture 2: Quartzite outcrop at the Montpetit Property.
Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #308 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.
All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.
About Quebec Quartz
Uragold 100 % wholly owned subsidiary, Quebec Quartz, by virtue of being a first mover into this market, succeeded in becoming the largest holder of distinct High Purity Quartz properties in Quebec. Quebec Quartz strategic portfolio of High Purity Quartz (+99.+% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. Quebec Quartz aims to become a leading supplier of Ultra High Purity Quartz
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
www.uragold.com/Quebec-Quartz.php
